Greatmark Investment Partners Inc. Acquires 14,200 Shares of The Charles Schwab Co. (NYSE:SCHW)

Greatmark Investment Partners Inc. grew its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 5.0% in the 4th quarter, Holdings Channel reports. The fund owned 300,625 shares of the financial services provider’s stock after buying an additional 14,200 shares during the period. Charles Schwab accounts for 3.2% of Greatmark Investment Partners Inc.’s investment portfolio, making the stock its 8th largest holding. Greatmark Investment Partners Inc.’s holdings in Charles Schwab were worth $20,683,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SCHW. Sugarloaf Wealth Management LLC increased its holdings in shares of Charles Schwab by 60.0% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock worth $30,000 after buying an additional 165 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new position in Charles Schwab in the fourth quarter valued at about $31,000. Hall Laurie J Trustee bought a new stake in shares of Charles Schwab during the fourth quarter worth about $34,000. Providence Capital Advisors LLC acquired a new position in shares of Charles Schwab in the third quarter valued at approximately $28,000. Finally, Glass Jacobson Investment Advisors llc raised its holdings in Charles Schwab by 81.0% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 599 shares of the financial services provider’s stock valued at $41,000 after buying an additional 268 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SCHW. Morgan Stanley raised their price target on shares of Charles Schwab from $65.00 to $71.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. JMP Securities reissued a “market outperform” rating and issued a $80.00 price target on shares of Charles Schwab in a research note on Tuesday, April 16th. Raymond James decreased their target price on shares of Charles Schwab from $78.00 to $75.00 and set an “outperform” rating for the company in a research report on Thursday, January 18th. Barclays increased their price objective on shares of Charles Schwab from $74.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 16th. Finally, Bank of America boosted their target price on shares of Charles Schwab from $68.00 to $70.00 and gave the company an “underperform” rating in a research report on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, Charles Schwab currently has a consensus rating of “Hold” and a consensus price target of $74.47.

Charles Schwab Stock Performance

Shares of NYSE:SCHW traded down $0.29 during mid-day trading on Monday, reaching $74.70. The company had a trading volume of 2,923,349 shares, compared to its average volume of 7,671,305. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.82. The firm has a market cap of $132.67 billion, a price-to-earnings ratio of 31.49, a PEG ratio of 1.10 and a beta of 1.01. The Charles Schwab Co. has a one year low of $45.65 and a one year high of $75.55. The company’s 50-day moving average price is $69.68 and its 200-day moving average price is $64.01.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.34%. The ex-dividend date is Thursday, May 9th. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

Insider Buying and Selling

In related news, insider Nigel J. Murtagh sold 29,991 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $67.80, for a total transaction of $2,033,389.80. Following the sale, the insider now owns 81,446 shares of the company’s stock, valued at approximately $5,522,038.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Charles Schwab news, Chairman Charles R. Schwab sold 58,500 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $64.60, for a total value of $3,779,100.00. Following the transaction, the chairman now directly owns 61,192,538 shares in the company, valued at approximately $3,953,037,954.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nigel J. Murtagh sold 29,991 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $67.80, for a total transaction of $2,033,389.80. Following the completion of the transaction, the insider now directly owns 81,446 shares of the company’s stock, valued at approximately $5,522,038.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 394,648 shares of company stock valued at $27,400,905. Company insiders own 6.60% of the company’s stock.

Charles Schwab Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.